These Guidelines address mobile money issues. Mobile money, along with “mobile banking”, pertains to the larger area of “mobile financial services”. “Mobile money” is e-money available to a user to conduct transactions through a mobile phone. “Mobile banking”, on the other hand, refers to the use of a mobile phone to perform transactions on one’s account in a licensed institution (including balance inquiries, mini-statements, statements and cheque books requisitions, forex rates enquiries and funds transfer to other nominated bank accounts). The term “mobile financial services” encompasses both “mobile money” and “mobile banking”. The rapid growth of the mobile money service demonstrates the financial inclusion potential of the service.
These Guidelines provide clarity on mobile money services to customer, mobile money service providers, licensed institutions, mobile money agents and other parties involved in the provision of mobile money services in Uganda. This document outlines the approval procedures, roles and responsibilities of parties engaged in the provision and usage of mobile money services. Guidelines also detail consumer protection for mobile money customers including a mechanism for handling complaints.